Dinar investors?

[HippieChik]

Anyone here invest in Iraqi dinar?

[V1P3R_1]

No. But my fingers are still crossed on the Greek Drachma.

 

Forgive my ignorance...but is there a reason we should invest in the Iraqi Dinar?

[creeper671]

currency will go up...that was a big thing on my tours...when everything settles down it will be worth more then what is was then...

[HippieChik]

Forgive my ignorance...but is there a reason we should invest in the Iraqi Dinar?

 

I believe so. Currently about 1170 Iraqi dinar is equal to $1 USD. At some point the dinar will revalue, putting $ into many people's pockets, including the U.S. government who currently holds anywhere from 3-5 trilliion IQD!

[Crusty_Demons]

I wish I would have invested in gold I can tell you that.

[V1P3R_1]

I believe so. Currently about 1170 Iraqi dinar is equal to $1 USD. At some point the dinar will revalue, putting $ into many people's pockets, including the U.S. government who currently holds anywhere from 3-5 trilliion IQD!

 

I'm not doing the math on that, but for the love of Kirby Puckett....WOW!

[[-VR-] Tool_Minion]

Or they could adopt a different form of currency making America's investment worthless.....it's happened before.

[xcerealxxkillax]

I've got some Pesos if anyone wants to invest!

[HippieChik]

The US isn't the only country that holds IQD, many countries hold IQD. And Iraq isn't fully in control of that. I don't see the IMF letting the CBI (Central Bank of Iraq) do something like that happen. Too many "powers that be" stand to gain.

 

So it looks like I'm the only person here who invests in IQD ... interesting.

[DevilHawk34]

Its going to be sometime before their money will bring any real value to you. I thought about this when I was over in the middle east, it really is a time investment and a trick one at best.

[HippieChik]

My first dinar purchase was over 5 years ago. So I have been waiting for some time, but, it's an investment worth waiting for. I personally don't think I will be waiting much longer for a revalue. Some very interesting things are happening in Iraq right now that leads me to believe that my investment will be paying off very soon. And while I do expect a decent return, it's also nice to know that my investment has and is helping to rebuild a country. If you have a little bit of extra money, it's definitely worth looking into. Some people spend more money in a day at the casino than what you can spend to purchase 250,000 dinar. And IMO, you'll have a much better chance at making a return on your dinar investment.

[ClutchSki]

I invested alot of money into the iraqi dinar and when i say alot of money i meen alot of money so when it does hit i will be loaded. =)

[HippieChik]

I invested alot of money into the iraqi dinar and when i say alot of money i meen alot of money so when it does hit i will be loaded. =)

 

I'll have a nice little chunk of change, myself. ;-)

 

So have you been keeping up with the goings on in Iraq lately?

[Nikastylez]

How does one go about investing into the Iraqi dinar? I saw a site that is selling 350,000 dinars for $320.00, but just how safe are these transactions? Could you point me to a legitimate company that does this? Thanks =)

[HippieChik]

350,000 dinar for $320.00 is a great price. Most sites have the dinar listed around that price for 250,000 IQD.

 

All I can do is tell you where I purchased my dinar. I have purchased from two different dinar dealers. I don't recommend the first one that I purchased from 5 years ago. That was www.safedinar.com. The only reason I don't recommend them is because it has been 5 years since my transaction with them and I purchased from them without any knowledge whatsoever of what to look for in a dinar dealer. Thankfully, the dinar I purchased from them was good dinar, but it was really stupid to purchase from someone who I did not research. As with anything, just do your research. Also, all of the dinar I own is uncirculated. I don't know that this matters, but most dealers sell uncirculated IQD. Make sure you are NOT purchasing old dinar, such as the dinar with Saddam's picture. This dinar is worthless.

 

My most recent purchase was through www.dinartrade.com. Great transaction. And I will be able to exchange my IQD for USD with them once the dinar RVs, if I so choose. (You will not be able to cash in at just any bank the moment it RVs. Bank of America will exchange the currency for you also, but you will need an account with them.)

 

One of the sites I frequent is www.theiraqidinar.com. This site has a link to many other dinar sites with some great information. Just do your homework and you should be good.

[ClutchSki]

I'll have a nice little chunk of change, myself. ;-)

 

So have you been keeping up with the goings on in Iraq lately?

 

Honestly i try not to look at whats happening cause i when it does hit i want to be surprise.

[xcerealxxkillax]

Anyone want to invest in Mexican Pesos?

 

Just kidding.....It sounds intriguing, but just worry how legitimate this all is.

[Nikastylez]

Thanks for the info Hippie!

 

I went and did some research and about 90% of the articles I came across point to this being a scam. Others are saying that it may never revalue to the point where there would be a profit and some even go as far as saying that it will even worsen and that you'll just end up with worthless paper in your hands. However, with that in mind, I did read that obviously the US has heavily invested in dinars, but also people like Donal Trump as well. I don't take Trump for being a bad business man. So, if he has invested in dinars, I'm sure it's for a reason.

 

The one thing that left me wondering about all of this is that, if there is a profit to be made out of this, why are people selling the dinars instead of holding on to them? If I had something in my possession that I know will generate money for me in the future, I'd like to hold on to it.

Edited January 20, 2011 by Nikastylez

[HippieChik]

Thanks for the info Hippie!

 

I went and did some research and about 90% of the articles I came across point to this being a scam. Others are saying that it may never revalue to the point where there would be a profit and some even go as far as saying that it will even worsen and that you'll just end up with worthless paper in your hands. However, with that in mind, I did read that obviously the US has heavily invested in dinars, but also people like Donal Trump as well. I don't take Trump for being a bad business man. So, if he has invested in dinars, I'm sure it's for a reason.

 

The one thing that left me wondering about all of this is that, if there is a profit to be made out of this, why are people selling the dinars instead of holding on to them? If I had something in my possession that I know will generate money for me in the future, I'd like to hold on to it.

 

Dinar in and of itself is not a scam. It is the legal money used in Iraq. The "scam" is that there are unscrupulous sellers out there. That's why you have to do your homework and make sure you are purchasing dinar from a trusted dealer. Just like subprime lending and the housing market, it was hot and there were all kinds of crooks doing whatever they could to make a quick buck and so it is with the dinar.

 

Dealing in dinars is a business. Those who sell dinar to people like me are making some money. And I don't doubt that they take some of that profit and are stock piling their own dinar. They will also make money when you cash it in. So will banks and the government. So to answer your question ... it's a business for them.

 

With dinar investing, you take a risk. It's the same with any investment. We risk thousands in our 401k everyday. Some quarters I lose thousands and some quarters I make thousands. My advice to anyone thinking about investing in dinar is NOT to invest any more that you can afford to lose. I'm personally willing to risk some money. Although I don't think I'm risking much because I really believe that my investment will pay off. There are too many countries with a stake in this for it not to RV. Us peons are just small fish in a much bigger sea.

 

Anyways, I'm not saying you should invest just because I have. Some people like to gamble at casinos or buy lotto tickets and I like to invest in dinar.

Edited January 21, 2011 by HippieChik

[HippieChik]

Honestly i try not to look at whats happening cause i when it does hit i want to be surprise.

 

I know, right! It's easy to get obsessed with checking the news non-stop to stay on top of things. I just read what I can and then don't focus too much on when it will happen or for how much. I've started focusing on what I'm going to do once it does, so that I'm prepared. Any good tax attorneys around these parts? lol

[ClutchSki]

Yeah im with theiraqidinar.com